UBS Group AG Buys 142,408 Shares of Doximity, Inc. $DOCS

Key Points

• UBS Group AG increased its stake in Doximity by 26.5% in the fourth quarter, buying 142,408 additional shares and bringing its total holding to 680,260 shares valued at about $30.1 million.
• Institutional interest remains strong, with 87.19% of Doximity’s stock owned by institutional investors. Other large holders, including Vanguard and William Blair, also reported notable positions or increases.
• Analysts are generally constructive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $41.26. The company also reported stronger-than-expected quarterly earnings and authorized a $500 million share repurchase program.

UBS Group AG boosted its stake in Doximity, Inc. (NYSE:DOCS - Free Report) by 26.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 680,260 shares of the company's stock after purchasing an additional 142,408 shares during the period. UBS Group AG owned approximately 0.36% of Doximity worth $30,122,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Doximity by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 13,285,485 shares of the company's stock valued at $588,281,000 after buying an additional 518,916 shares during the period. SG Americas Securities LLC grew its position in shares of Doximity by 335.9% during the 3rd quarter. SG Americas Securities LLC now owns 52,993 shares of the company's stock valued at $3,876,000 after acquiring an additional 40,837 shares during the period. Aubrey Capital Management Ltd bought a new stake in shares of Doximity during the 3rd quarter valued at $4,572,000. Blair William & Co. IL grew its position in shares of Doximity by 1,990.7% during the 3rd quarter. Blair William & Co. IL now owns 362,740 shares of the company's stock valued at $26,534,000 after acquiring an additional 345,390 shares during the period. Finally, William Blair Investment Management LLC grew its position in shares of Doximity by 11.7% during the 3rd quarter. William Blair Investment Management LLC now owns 5,829,169 shares of the company's stock valued at $426,404,000 after acquiring an additional 609,775 shares during the period. 87.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on DOCS shares. Zacks Research raised shares of Doximity from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 21st. Needham & Company LLC raised shares of Doximity to a "moderate buy" rating in a research report on Friday, February 6th. Piper Sandler boosted their price objective on shares of Doximity from $40.00 to $42.00 and gave the company an "overweight" rating in a research report on Friday, February 20th. Canaccord Genuity Group set a $34.00 price objective on shares of Doximity and gave the company a "buy" rating in a research report on Monday, February 9th. Finally, BMO Capital Markets set a $25.00 price objective on shares of Doximity in a research report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.26.

Doximity Price Performance

Shares of Doximity stock opened at $25.97 on Friday. The company has a market cap of $4.80 billion, a P/E ratio of 21.65, a P/E/G ratio of 1.85 and a beta of 1.36. The business has a fifty day moving average price of $24.22. Doximity, Inc. has a fifty-two week low of $20.55 and a fifty-two week high of $76.51.

Doximity (NYSE:DOCS - Get Free Report) last issued its earnings results on Thursday, February 5th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. Doximity had a net margin of 37.54% and a return on equity of 23.84%. Doximity's revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 earnings per share. As a group, analysts anticipate that Doximity, Inc. will post 1.11 earnings per share for the current fiscal year.

Doximity declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at Doximity

In related news, Director Kira Scherer Wampler sold 9,000 shares of the company's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $26.06, for a total value of $234,540.00. Following the completion of the transaction, the director owned 19,839 shares of the company's stock, valued at approximately $517,004.34. This represents a 31.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Siddharth Sitaram sold 2,427 shares of the company's stock in a transaction on Friday, April 10th. The stock was sold at an average price of $21.09, for a total transaction of $51,185.43. Following the completion of the transaction, the insider directly owned 86,705 shares of the company's stock, valued at $1,828,608.45. This represents a 2.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 18,028 shares of company stock valued at $460,181 in the last ninety days. 31.30% of the stock is currently owned by insiders.

Doximity Profile

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.